Owens-Illinois (NYSE:OI) has been given a $17.00 price objective by research analysts at BMO Capital Markets in a report issued on Thursday, TipRanks reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. BMO Capital Markets’ price objective points to a potential upside of 57.70% from the stock’s previous close.
OI has been the subject of several other reports. Wells Fargo & Co raised Owens-Illinois from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $24.00 in a research report on Wednesday, May 15th. Citigroup reduced their target price on Owens-Illinois from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Credit Suisse Group reduced their target price on Owens-Illinois from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Goldman Sachs Group raised Owens-Illinois from a “sell” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $13.00 in a research report on Monday, August 5th. Finally, ValuEngine lowered Owens-Illinois from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Owens-Illinois has a consensus rating of “Hold” and a consensus target price of $17.30.
Shares of OI traded up $0.34 during trading hours on Thursday, hitting $10.78. The company had a trading volume of 3,073,461 shares, compared to its average volume of 2,056,361. The company has a market capitalization of $1.62 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 5.72. Owens-Illinois has a one year low of $9.58 and a one year high of $20.78. The company’s fifty day moving average price is $11.73 and its two-hundred day moving average price is $16.55.
Owens-Illinois (NYSE:OI) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.07). The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.76 billion. Owens-Illinois had a return on equity of 39.73% and a net margin of 3.76%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. Analysts forecast that Owens-Illinois will post 2.37 earnings per share for the current year.
In other Owens-Illinois news, Director Carol A. Williams bought 10,000 shares of Owens-Illinois stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $12.21 per share, with a total value of $122,100.00. Following the transaction, the director now directly owns 60,761 shares of the company’s stock, valued at approximately $741,891.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.
A number of large investors have recently made changes to their positions in OI. Geode Capital Management LLC increased its position in Owens-Illinois by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,579,433 shares of the industrial products company’s stock valued at $27,229,000 after buying an additional 61,310 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Owens-Illinois by 6.6% in the first quarter. Moors & Cabot Inc. now owns 12,150 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 750 shares during the period. Raymond James & Associates increased its holdings in shares of Owens-Illinois by 3.2% in the first quarter. Raymond James & Associates now owns 100,081 shares of the industrial products company’s stock valued at $1,900,000 after purchasing an additional 3,082 shares during the period. LSV Asset Management increased its holdings in shares of Owens-Illinois by 6.4% in the first quarter. LSV Asset Management now owns 5,357,391 shares of the industrial products company’s stock valued at $101,683,000 after purchasing an additional 324,030 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Owens-Illinois by 30.7% in the first quarter. JPMorgan Chase & Co. now owns 383,051 shares of the industrial products company’s stock valued at $7,271,000 after purchasing an additional 89,913 shares during the period. 91.70% of the stock is currently owned by institutional investors.
Owens-Illinois, Inc, through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in Americas, Europe, and Asia Pacific. It produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals.
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